NAPF backs new EU Finance Commissioner
Following the announcement of the appointment of Lord Jonathan Hill to the role of EU Commissioner for Financial Stability, Financial Services and Capital Markets Union, UK- based National Association of Pension Funds (NAPF) has backed the apppointment.
James Walsh, senior policy advisor EU and International at NAPF, comments:
This is surprising and good news. No one expected the UK Commissioner to be allocated the coveted financial services portfolio that includes responsibility for workplace pensions.
Although issues such as the IORP Directive and Holistic Balance Sheet are unlikely to go away, today’s news makes it much more likely that we will receive the good outcomes needed on these two crucial issues to secure the future of workplace pensions.
We congratulate Lord Hill on his appointment and look forward to working closely with him to explain our members’ concerns, ensuring the Commission recognises the essential role pension funds play as long-term investors.